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Dabiri Erewa applauds diasporas contributions to the Nigerian economy as diaspora remittances increases

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Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) has commended Nigerians in the Diaspora on the rise of remittances in the first quarter of the year, by 20.3 per cent, representing the seventh consecutive quarterly increase in diaspora remittances since last quarter in 2020.

In a statement by the Commission’s Head of Media and Public Relations, Abdur-Rahman Balogun, Dabiri-Erewa said that increase in remittances by Nigerians abroad which has played a significant role in the country’s Gross Domestic Product (GDP), has a great impact on socio-economic growth of the country

She said, “As the world recovers from the global pandemic and confronts instability of many kinds, we want to honor the efforts of all those who continue to support their loved ones despite the challenging circumstances.”

According to the NIDCOM boss, the recent figures released by the Central Bank of Nigeria (CBN) showed an increase in remittances in quarter one of 2022 to $5.16 billion from $ 4.29 billion same period in 2021.

Also, the ‘Naira 4 Dollar Scheme’ created by the Central Bank of Nigeria (CBN) in 2021, attracted $2.4 billion in diaspora remittances within eight months, surpassing the figure reported in 2021.

She said NiDCOM will continue to push for more engagement with our diaspora who are an indisputable economic factor and are becoming an investment factor in the country, noting that many Nigerians abroad are investing in agriculture, real estate , health ,education and ICT, amongst others.

Dabiri-Erewa implored all stakeholders to continue engagement for Diaspora Voting with the National Assembly to amend relevant sections of the law to enable INEC to do the needful.

She assured Nigerians abroad that details of Nigerians Diaspora Investment Trust Fund (NDITF) will soon be unveiled as a platform for structured diaspora investments, just as
Diaspora mortgage and housing facilities are some of the programmes being introduced by NIDCOM for the welfare of the citizens abroad.

Similarly, 33 states now have State Diaspora Focal Point Officers with Abia setting up Abia Diaspora Agency, while Edo and Enugu are almost set with their own agencies just as Ondo and Anambra states have Commissioners.

She also described the Diasporans as a valuable asset worth more than the billions of naira they sent home as remittances as they are contributing immensely to national development through training and capacity development.

Stressing that no nation can develop without its diaspora, she emphasized the need for Nigerians at home and in diaspora to work together.

It is expected that by the end of the 2022 financial year, the remittances from Nigerians in the Diaspora from official sources ,would have increased from its current $22 billion to about $25 billion.

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Mushin LG Chairman flags off construction of Yusuf Street road, promises solar lighting

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The Mushin Local Government Chairman, Hon. Emmanuel Bamigboye on Wednesday flagged off the construction of Yusuf Street road in Papa Ajao.

The project is expected to bring relief to residents and traders in the area and is set to be completed within six months.

According to Bamigboye, the project is a fulfillment of his campaign promise to the people of Mushin, and he expressed gratitude to God for the opportunity to execute the project.

He urged residents to cooperate with the contractor and the local government to ensure the successful completion of the project.

The councillor representing the ward, Ayomide Abioye, expressed his joy and appreciation for the project, stating that it is the longest street in Papa Ajao and will bring immense benefit to the community.

Also, the Baba Oloja of Ladipo International Market, Eze Monday, also commended the Executive Chairman for the project, stating that it will make a significant impact on the development of the area.

The project includes the construction of the road and the installation of solar lighting, which is expected to enhance security and facilitate economic activities in the area.

Residents and traders in the area have been warned not to disturb the contractor or disrupt the project in any way.

Meanwhile, the traders applauded Hon. Bamigboye for demonstrating its commitment to infrastructural development and the welfare of its citizens.

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Giving back to community — Prof Oyedokun speaks on motives

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Lead Facilitator Professor of Accounting & Financial Development Founder OGE, Prof. Godwin Emmanuel Oyedokun, has disclosed that giving back to society community is his motive for pursuing his career.

He made the disclosure in an article titled “My motive for running a free professional diploma course in Forensic Accounting and Fraud Investigation is of several folds.”

He said, “Running a free professional diploma course in forensic accounting and fraud investigation is also motivated by my desire to give back to the community.

“By sharing my expertise and knowledge without any financial barriers, I am helping individuals from diverse backgrounds and financial situations to acquire valuable skills and advance their careers.”

The academic reiterated that the motive for running a free professional diploma course in forensic accounting and fraud investigation is centred around education, skill development, community service, and professional growth.

It is a way to contribute to the accounting profession, address a skill gap, and empower individuals in their pursuit of knowledge and career advancement.

According to him, “Promoting Education and Professional Development to contribute to the growth and development of the accounting profession by providing individuals with an opportunity to enhance their knowledge and skills in the specialised field of forensic accounting and fraud investigation.

“By offering this free course, i am enabling aspiring professionals to access valuable education that might otherwise be costly or inaccessible.”

The Don addressing the need for expertise in Forensic Accounting said, “In recent years, there has been an increasing demand for professionals skilled in forensic accounting and fraud investigation due to the rise in financial crimes and fraudulent activities. By offering this free course, I am helping to address this skill gap and aiding in the fight against financial fraud.”

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Airport tolls: Nigeria lost billions under old rules — Keyamo

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The Minister of Aviation and Aerospace Development, Festus Keyamo, has revealed that the Federal Government lost 82 percent which is equivalent to N10 billion in revenue that ought to accrue from airport tollgates under old rules.

Keyamo revealed this to State House correspondents during the week at the end of a two-day meeting of the Federal Executive Council.

The minister lamented that the ministry accumulated 82 percent in the negative from the complimentary e-tags printed by the ministry, noting that 82 percent of the e-tags are given free of charge to VIPs.

He stated, “Let me give you the shocking statistics. The negative figure that we get at the end of the day from the complimentary e-tags is 82 percent, in the negative.

“In other words, where we are supposed to have a 100 per cent contract on the e-costs from these e-tags that we print, it is only 18 per cent that we now end up selling. That is how bad it is. 18 per cent and 82 per cent of these e-tags are given out free of charge to VIPs. So, imagine the loss in my sector, and I ask myself,Which other sector will I go to that they give me anything free?’

“Is it because I’m a VIP that you say that in FCT, I should not pay land charges that you waive it for me? I pay for that sector. I pay for power. Yes, I pay for everything. So, why would anybody now come to my own sector and want to get free passage? Not possible. That is how bad it is.”

He added that free e-tags to the VIPs had in the past led to the loss of billions of naira

“So this has led in the past to loss of billions of naira, not millions, annually. Yet, our airport infrastructure, you know, is decaying. I am helpless. I’m looking for concessionaires. I’m looking for help with decaying infrastructure.

“They will be the first to cry out, these same VIPs – ‘why are the toilets like this? Why are your toilets smelling? Why can’t you do this?’ They are the same people, but they don’t pay for the services. So, if we want improved infrastructure at the airport, we must pay for services,” he said.

The minister lamented that due to the policy of exemption, the ministry makes only about N100 million instead of making about N260 million from a particular airport gate every month.

“I’ll give you another example. In one of the access gates, based on the count of the barrier going up and down, we are supposed to be making N250m or 260 million from that gate every month. That gate, because of exemptions, the return to us is less than N100 million every month,” he added.

To end the loss, the FEC decided that the president, vice president, and other top government functionaries would start paying access fees or the e-tag at all 24 federal airports across the country.

Prior to this development, the president, vice president, and some government officials were exempted from paying access fees at the airports’ gates.

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